Stay in the know. Subscribe to Currents
CurrentTrends

The End of 9-5 Daycare

1 Mins read

The other day one of my nieces was concerned that the daycare she was planning to register her young child in this fall insists children be picked up by 5 p.m. That can be tough on working parents.

But Axios reports there’s “a shift away from 9-5 daycare and toward ‘configurable’ arrangements “ such as a babysitter for part of the week and “other arrangements for the rest.” Axios says this is due to increased hybrid work and the “soaring cost of childcare.”

In a survey from Care.com provided to Axios, 51% of parents report they’ll spend more than 20% of their income on childcare this year—“far more than the 7% the federal government defines as ‘affordable’.”

These higher costs, says Axios, are driving long-term changes in how and where childcare takes place. “It’s a huge sea change,” Care.com CEO Tim Allen told Axios. He added that families were looking for childcare that worked with their work-from-home schedules and didn’t need 9-5 daily childcare.

I don’t want to dispute Care.com’s survey, but I know my niece is not looking for a part-time solution. If you’re working at home, it’s hard to do your job and take care of your kids.

There has long been a shortage of affordable daycare in the U.S., and this may be a good time to think about how you can offer the solutions parents want. If you operate a daycare facility, think about changing your hours to accommodate parents’ schedules more easily. Can you offer payment options? Part-time care?

With the news a few weeks ago that the birthrate is ticking up, it’s a good bet the need for childcare will increase. There’s an opportunity for entrepreneurs who can figure out how to fill that need.

 

Daycare stock image by Krakenimages.com/Shutterstock

Related posts
CurrentLead

Culture Shifts to Improve Worker Mental Health

2 Mins read
Some mental health programs require significant monetary investments (e.g. top notch health insurance) but there are cultural mandates that cost your company…
CurrentMoney

Empowering SMEs Through Adequate Access to Finance

3 Mins read
According to data from the World Bank, Small and Medium Enterprises (SMEs) account for about 90% of businesses in the world. Not…
CurrentMoney

The Impact of the Wayfair Decision on Small Businesses Four Years Later

3 Mins read
It’s been four years since the Supreme Court’s decision in South Dakota v. Wayfair, Inc. sent shockwaves through the country, and the…